Newark, March 07, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global In-Mold Electronics market is expected to grow from USD 189.38 Million in 2023 to USD 2,358.09 Million by 2033, at a CAGR of 28.83% during the forecast period 2024-2033.
The key factor propelling the in-mould electronics sector is that it makes smooth surfaces with no gaps, making them easy to clean. It can be very useful in medical applications. The in-mould electronics help the capacitive touch technology integrate into the device compactly, inexpensively, and at scale. It can be broadly used in the medical field.
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| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Market Size in 2023 | USD 189.38 Million |
| Market Size in 2033 | USD 2,358.09 Million |
| CAGR | 28.83% |
| No. of Pages in Report | 239 |
| Segments Covered | by Product, Application, Regions |
| Drivers | Growing usability in the automotive sector |
| Opportunities | Growing prospect in the Aerospace sector |
| Restraints | The complex manufacturing process |
Competitive Strategy
To enhance their market position in the global In-Mold Electronics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In August 2023: DuPont completed the acquisition of Spectrum Plastics Group, which is a leading organization in the speciality medical devices and components sector. It is helping the acquired organization offer a broader and more integrated set of offerings for crucial healthcare applications. It also helps the organization expand its market share in the in-mold electronics market.
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Market Growth & Trends
There are several advantages of in-mold electronics, and they add properties like lightweight, robustness, space-saving and freedom of design. In-mold electronics are broadly used in making instruments and door panels, along with window and door controls in the automotive sector. IME helps redesign the shape of the door panels, including seat positioning sensors, integrated door heaters, and control sensors. IME helps designers create new shapes for car interiors. It helps use fewer materials and parts, leading to a substantial decrease in the production processing steps. Hence, the cost savings are also very beneficial for car manufacturers. Automotive Interiors represents the large addressable market for IME. IME is used in several industries like automotive, healthcare, consumer electronics, and aerospace, which helps expand the market. The use of smart devices is growing, and there is a surge in the integration of electronics into everyday things, which is also propelling the growth of the In-mold electronics market. The technology offers benefits like improved durability, a decrease in manufacturing cost and increased design flexibility. Also, it has been observed that the leading manufacturers are broadly adopting IME to provide innovative products, improve the user experience and differentiate their product offerings in the market. The automotive sector is using the IME significantly, thus driving the market's growth. Integrating lighting systems, touch interfaces, and sensors into vehicle interiors is helping automotive manufacturers improve the functionality and aesthetics of their vehicles. Moreover, the IME is also useful for the healthcare sector in developing wearable devices and smart medical equipment. The production technology is broadly used in automotive and industrial electronics, IoT, home appliances and wearable gadgets. All these factors are thus driving this technology known as in-mould electronics or IME. Electronics has become an integral part of automotive design, and presently, the consumer is expecting more electronic content and capability within the vehicles. These factors are moving the trend away from fossil fuels and towards hybrid and electric vehicles, which need a reduction in weight. The in-mould electronics are used as touch controls in many white good appliances. The use of IME not only helps manufacturers improve the design of their products but also offers significant advantages in production.
Key Findings
• In 2023, the silver conductive ink material segment dominated the market with the largest market share of 40.35% and market revenue of USD 76.41 Million.
The product segment is divided into silver conductive ink material, carbon conductive ink material and others. In 2023, the silver conductive ink material segment dominated the market with the largest market share of 40.35% and market revenue of USD 76.41 Million. This high market share is attributed to its use for in-mold electronics, which have excellent heat stability and better electrical conductivity.
• In 2023, the automotive segment dominated the market with the largest market share of 77.44% and market revenue of USD 146.66 Million.
The application segment is divided into automotive, white goods, medical, aerospace and others. In 2023, the automotive segment dominated the market with the largest market share of 77.44% and market revenue of USD 146.66 Million. The new technologies are helping to integrate more electronics into vehicles. IME is the best example of it.
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Regional Segment Analysis of the In-Mold Electronics Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global In-Mold Electronics industry, with a market share of 36.89% and a market value of around USD 69.86 Million in 2023. This market share is attributed to the surge in the presence of global electronic manufacturers in countries like India, China, Japan, Taiwan, and South Korea. Also, the growing demand for consumer electronics in the region is driving the use of in-mold electronics technology. The disposable income of the people in the region, especially in emerging economies like China and India, is growing along with the expanding healthcare infrastructure and growing automotive sector. All these factors are also propelling the growth of the IME in the region.
Key players operating in the global In-Mold Electronics market are:
• DuPont de Numours
• TactoTek Oy
• Golden Valley Products
• Nissha Co. Ltd.
• Butler Technologies
• GenesInk
• YOMURA
• InMold Solutions
• Eastprint Incorporated
• DuraTech Industries
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global In-Mold Electronics market based on below mentioned segments:
Global In-Mold Electronics Market by Product:
• Silver Conductive Ink Material
• Carbon Conductive Ink Material
• Others
Global In-Mold Electronics Market by Application:
• Automotive
• White Goods
• Medical
• Aerospace
• Others
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About the report:
The global In-Mold Electronics market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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